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Friday, January 19, 2007 12:00 AM

A business deal with a friend went bad, and he never paid me back

What will be the cost of renewing this friendship?
By Cary Tennis

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  • Thursday, January 18, 2007 08:30 PM

    You got off cheap

    You got a cheap lesson in real life with only a $1000 loss.

    Years ago, my late father ran an insurance company. He relished each time a policy owner came up with a new method to cheat the company. When I asked him why, his response was simple: these people take us for small amounts and it keeps us on our toes. It prevents us from losing really big money.

    Credit that $1,000 loss toward your education. Now the trick is the next time you go into business with anyone, you take steps to protect yourself.

    SJ

    —stjoe Read stjoe's other letters

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